Tagcash is a Philippines based, government regulated E-Money Issuer authorised to issue and run E-Money on permissioned blockchains. (tagcash.com/emi.pdf). We want to make it easier for people abroad to remit Money back home to Philippines. Tagcash is also creating an equity crowdfunding platform with secondary exchange, with shares created as tokens within the Tagcash Blockchain. We are considering also offering them on Stellar if there is demand and if local regulations allow it.
By regulations we must keep the Philippines Pesos in the bank to match issued assets. Users will be able to send to a PHP wallet and then cashout or use within the Tagcash ecosystem with features similar to Paypal, Wechat, etc. Tagcash is in competition with Gcash and Paymaya in Philippines.
We are looking for other anchors to work with, or companies wanting to send PHP back to Philippines. Currently, the asset needs authentication to trade, which we will be enabling from within the Tagcash Wallet app. By local law, we need to do KYC verification on anyone holding PHP, so once verified in the app, then you will be able to provision stellar addresses with permission to hold, trade and transfer.
Stellar TOML file is: